STEWART, BRITISH COLUMBIA--(Marketwired - Feb. 2, 2017) - Mountain Boy Minerals Ltd (TSX:MTB)(FRANKFURT:9MU) (Mountain Boy) announces that two drill holes completed late in 2016 tested the large Ataman Zone located in Surprise Creek within the Golden Triangle district of British Columbia. Highlights of the drilling are as follows:
- 4.58 m of 4.31 % Zn, 44.75 g/t Ag, 0.33 % Cu and 67 % barite in DDH SC-2
The remainder of assays include:
The drilling was terminated due to bad weather and freezing of the water source. DDH-SC-1 was drilled parallel to the zone and intersected low values. DDH-SC-2, drilled at right angles to the zone, was still in the mineralized horizon as the last assay had 73.47 % barite. The Ataman zone has been traced for over 600 m of height as well as 600 m of width within the Surprise Creek valley. Surface work in 2016 indicates that the barite horizons extend from the valley floor to the ridge tops, over 600 m in height. The indicated length of the Ataman zone is at least 1.2 km. The Surprise Creek property is underlain by an anticlinal structure that hosts the VMS horizon along both the eastern and western portions of the property.
E. Kruchkowski, President of the Company states: "The preliminary results indicate a robust mineralized system that appears to present a huge exploration target. Some of the intersections graded over 90 % barite. Work in 2017 will target this extensive barite horizon. Metallurgical studies by Mountain Boy on similar material in the Stewart are has shown that flotation processes followed by gravity on the non-sulphide tailings show a greater than 92 % barite product. In addition, the nearby port of Stewart offers a cost-effective method for shipping."
Barite is utilized primarily for its high specific gravity (SG 4.5), utilized as a drilling mud in the oil and gas industry, in addition to its chemical and physical inertness, relative softness and very low solubility (uses in the medical and paint industry). The largest deposits currently mined are stratiform beds in China and India. The US and Canada presently import 400,000 tonnes of industrial grade barite (SG;4.3-4.4) and 3.6 million tonnes of oilfield barite (SG >4.1). Oilfield barite sells for several hundred dollars a tonne at the well sites.
The Surprise Creek project is a joint venture with Great Bear Resources, the 50 % partner with Mountain Boy who is the project operator.
Rock assay results are evaluated through a Quality Assurance and Quality Control (QAQC) procedure that includes the use of standards with known precious and base metal values. Assaying was carried out by Loring Laboratories Ltd. of Calgary, AB
Ed. Kruchkowski, P. Geo., a qualified person under National Instrument 43-101 is responsible for the contents of this release. E. Kruchkowski is not independent of Mountain Boy as he is the president and a director of the Company.
Mountain Boy Minerals is a diversified exploration and project development company with its 20% interest in the "Silver Coin" deposit located between Ascot's "Premier" and "Big Missouri " pits (over 2MM oz of gold equivalent with its share carried to production by Jayden Resources Ltd). It also owns a 35% interest in the "Red Cliff" property, a high grade advanced gold-copper exploration project. Furthermore, the company holds a 100% interest in the "MB Silver" and a 50% interest in the expansive "BA" and "George Copper"claim blocks (> 12MM spent to date - Zinc, Lead, Silver and Copper mineralization. At the company's "Zeolite Project" in southern B.C. consulting and permitting is planned for this spring. For a complete listing of the Company assets and developments, visit the Company website at www.mountainboyminerals.ca.
ON BEHALF OF THE BOARD OF Mountain Boy Minerals LTD.
Ed Kruchkowski, President, Director
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"This news release may contain forward-looking statements. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements."